Kinetik Holdings Inc. (NYSE:KNTK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kinetik Holdings Inc. (NYSE:KNTKGet Free Report) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $51.40.

Several research firms recently issued reports on KNTK. Morgan Stanley set a $64.00 target price on Kinetik and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a report on Friday, May 8th. US Capital Advisors raised shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $56.00 target price on shares of Kinetik in a report on Tuesday, July 21st.

Check Out Our Latest Stock Report on KNTK

Institutional Trading of Kinetik

Hedge funds have recently modified their holdings of the stock. CWM LLC grew its stake in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC raised its position in Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Kinetik in the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new stake in Kinetik in the 4th quarter valued at about $40,000. Finally, Huntington National Bank boosted its stake in shares of Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares during the period. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Price Performance

Shares of KNTK opened at $48.26 on Thursday. The firm has a 50-day simple moving average of $48.18 and a two-hundred day simple moving average of $46.49. The stock has a market cap of $7.84 billion, a PE ratio of 19.70, a P/E/G ratio of 1.92 and a beta of 0.56. Kinetik has a 1-year low of $31.33 and a 1-year high of $52.54.

Kinetik (NYSE:KNTKGet Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. Kinetik’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, sell-side analysts expect that Kinetik will post 0.81 earnings per share for the current fiscal year.

Kinetik Company Profile

(Get Free Report)

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.

Further Reading

Analyst Recommendations for Kinetik (NYSE:KNTK)

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